Quarterly report pursuant to Section 13 or 15(d)

Licenses

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Licenses
9 Months Ended
Sep. 30, 2018
Licenses  
Licenses

5. Licenses

 

On March 7, 2018, Mendocino entered into an asset purchase agreement with a third-party seller, pursuant to which Mendocino acquired all of the assets relating to a non-operating retail cannabis lease in Point Arena, Mendocino County, California for total cash consideration of $350,000.

 

The amount assigned to the Licenses intangible asset was $309,300. The licenses and permits renew annually for nominal fees.